Topic: Stay of enforcement

An ICSID committee has upheld an award requiring Spain to pay €42 million to a Luxembourgish subsidiary of US private equity firm First Reserve, rejecting arguments that the tribunal should have declined jurisdiction over the intra-EU dispute.

02 December 2022

An English judge has agreed to lift a stay of proceedings brought by the former majority shareholders of Yukos Oil Company to enforce awards worth over US$50 billion against Russia, for the “sole purpose” of deciding on the state’s jurisdictional defence.

26 October 2022

A US court has ruled that proceedings to enforce the US$57 billion Yukos awards against Russia should resume after a six-year stay, citing concerns that targeting the state’s assets may become more difficult following the war in Ukraine.

14 April 2022

Two US district courts have agreed to suspend discovery proceedings brought by a Russian oil company seeking to collect on a US$173 million treaty award against Ukraine – after both sides requested a stay in light of Russia’s invasion of the country.

09 March 2022

A New York state court has refused to grant Haiti a stay of a US$94 million ad hoc arbitration brought by a petroleum supplier, after a federal court lifted an attachment on assets owned by the Caribbean state’s central bank.

18 October 2021

An ICSID committee has lifted a stay of enforcement of a US$9 billion award in favour of ConocoPhillips while it considers Venezuela’s bid to annul the award.

05 October 2021

As a Brazilian court lifts a stay on an award in a multibillion-dollar M&A dispute, the ICC Court has rejected a bid to disqualify the entire tribunal based on an alleged cyber-attack.

14 July 2021

Spain has applied to annul a €28 million Energy Charter Treaty award won by German power utility RWE Innogy over the state’s changes to its renewable energy subsidy regime.

21 April 2021

A London court has rejected an application by the former majority shareholders in Yukos to lift a stay of enforcement over their US$50 billion awards against Russia, ruling they must wait until the Dutch Supreme Court rules on the state’s set aside bid.

14 April 2021

Before the holiday break, ICSID saw another solar award rendered against Spain, a stay lifted in another renewables case, a new €100 million claim against Albania and the settlement of a US$500 million claim against Uzbekistan.

04 January 2021